Islamic Financial Services

Qatar Islamic Financial Services

In recent years Qatar’s Islamic financial services (IFS) sector has expanded rapidly, on the back of government support and growing interest among domestic corporations and individuals alike. While tightening liquidity has the potential to result in slightly curtailed growth across the banking sector as a whole in 2016-17, sharia-compliant lenders are widely considered to be in a better position than their conventional counterparts to continue to grow during this slower period. Recent figures reinforce this perception, with Qatar’s four national Islamic banks posting overall asset growth of 17.5% between January 2015 and January 2016, compared with 14.4% growth in the conventional banking segment during the same period, according to the most recent data from the Qatar Central Bank (QCB).

This chapter contains interviews with Khalid Yousef Al Subeai, Acting Group CEO, Barwa Bank; Abdulbasit Ahmed Al Shaibei, CEO, Qatar International Islamic Bank; and Bassel Gamal, Group CEO, Qatar Islamic Bank.